Myanmar’s garment industry has registered decent growth in the current year. The country’s garment export earnings has increased to US $ 940 million in the year to mid-October from US $ 409 million in the corresponding period last year.
The increase in earnings was mainly because of the rise of exports to Japan and European Union. While Japan accounted for about the third of country’s garment exports; EU and South Korea were 25 per cent each; and United States and China accounted for 2.4 per cent each.
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Trade with the EU has grown as it lifted the economic sanctions on Myanmar in 2013 which resumed its trade privileges suspended in 1997 over Junta’s human rights record. The European Commission reports state that Myanmar’s exports to the region have increased from Euro 345 million in 2013 to Euro 548 million in 2015.
As per the Myanmar Garment Manufacturers Association figures, the industry employs more than 300,000 workers in 389 factories; of which 171 are Myanmar-owned, 196 foreign-owned and the rest are joint ventures.
